Scatec Sells 42% stake in 258 MW Upington Solar Project to Standard Bank Group
Scatec will continue to provide operations and maintenance (O&M) and asset management services to the solar project located in South Africa.
February 6, 2023
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STANLIB Infrastructure Fund II, the largest asset manager in South Africa and part of the Standard Bank Group, has acquired a 42% stake in the 258 MW Upington Solar Power project in South Africa from Norway’s Scatec for ($57 million). Along with Scatec, and other stakeholders in the project, Norfund has also sold off its 18% share to the Fund.
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Arjun Pradeep
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